The Rebuilding of the American Auto Industry The fuel crisis of the early millennium lasted nearly a decade and affected the automobile industry worldwide. The crisis hit hardest in U.S. markets. The top three automobile manufacturers, Ford, General Motors and Chrysler, had invested heavily in the popular sports utility vehicle (SUV). High demand had ensured high profits and then the bottom fell out. The fuel crisis and other economic constraints made consumers more cost conscious and drove them to abandon the gas guzzling sports vehicles for more economical options. Foreign competitors were offering smaller, more efficient vehicles at better prices. Imports began outselling the domestic market. To hedge the outflow of business and …show more content…
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